"During the third quarter, we continued to aggressively invest in product and platform development while still managing to generate cash flow. This coupled with the $2.4 million in gross proceeds raised in a private placement disclosed earlier today gives us the ability to execute more aggressively on our growth plans. These growth plans are centered around our new Buzztime BEOND platform that was recently launched commercially, including the new agreement with Buffalo Wild Wings, a leader in the retail technology space," said Buzztime CEO, Jeffrey Berg. "Buffalo Wild Wings has a publicly stated goal of growing to over 2,000 locations over the coming years, and we are excited to be a fundamental part of their future. This partnership confirms our ongoing mission of entertaining consumers in ways that bring long-term value to our merchant partners," continued Mr. Berg.

Results for the Third Quarter Ended September 30, 2013

Revenues for the third quarter of 2013 were $5.5 million compared to $6.1 million for the same period in 2012. Gross margin as a percentage of revenue decreased to 72% for the third quarter of 2013 from 75% for the same period of 2012. Direct costs remained flat at $1.5 million for the third quarter of 2013 compared to the same period of 2012.

Selling, general and administrative expenses decreased $0.2 million, or 4%, to $4.1 million for the third quarter of 2013 from $4.3 million for the same period in 2012.

Net loss for the third quarter of 2013 was $0.2 million, or $0.00 per share, compared to net income of $0.1 million or $0.00 per share in the same period a year ago.

The Company ended the third quarter of 2013 with 3,220 subscribing venues, compared to 3,739 at September 30, 2012.

Multi-Year Agreement with Buffalo Wild Wings

The Company and Buffalo Wild Wings (BWW) entered into a multi-year agreement following the successful conclusion of an extensive trial of Buzztime's entertainment and marketing services in Buffalo Wild Wing restaurants. Buffalo Wild Wings will install Buzztime's new BEOND platform as an integral part of the chain's new retail technology platform that is being launched throughout the chain's 955 locations. The new platform combines a differentiated customer entertainment experience, offering trivia, poker, arcade style games and more, all integrated with the Buffalo Wild Wings' dining experience to deliver improved customer satisfaction and increased revenue.

Conference Call

Management will review the third quarter financial results in a conference call today, November 13, 2013, at 4:30 p.m. ET.

To access the conference call, please dial (877) 307-1373, if calling from the United States or Canada, or (678) 224-7873, if calling internationally, and use passcode 98762342. A replay of the call will be available until November 20, 2013, which can be accessed by dialing (855) 859-2056, if calling from the United States or Canada, or (404) 537-3406, if calling internationally. Please use passcode 98762342 to access the replay.

The call will also be accompanied live by webcast over the Internet and accessible at the Company's Web site at http://www.buzztime.com.

About Buzztime

NTN Buzztime, Inc. (NYSE MKT: NTN) is a leading bar and restaurant social entertainment and integrated marketing platform. Trusted by over 3,200 bars and restaurants in North America since 1985, Buzztime integrates trivia, card and sports games with in- and out-of-venue messaging and communication tools. With over 4.2 million player registrations on the Buzztime platform and over 52 million games played each year, Buzztime players spread the word and invite friends and family to their favorite Buzztime location to enjoy an evening of fun and competition. With Buzztime entertainment and marketing solutions, bars and restaurants can turn casual visitors into regulars, and give guests a reason to stay longer. For the most up-to-date information on NTN Buzztime, please visit www.buzztime.com or follow us on Facebook or Twitter.

Forward-looking Statements

This release contains forward-looking statements which reflect management's current views of future events and operations, including but not limited to statements about our growth plans, product and platform development, new agreement(s), customer growth plans, long term value, customer platforms, improved customer satisfaction, increased revenue and the number of locations, players and games. These statements are based on current expectations and assumptions that are subject to risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties include the risks of unsuccessful execution or launch of products, platforms or brands, the impact of alternative entertainment options and technologies and competitive products, brands, technologies and pricing, adverse economic conditions, failure of customer and/or player acceptance or demand for new or existing products, lower market acceptance or appeal of both existing and new products and services by particular demographic groups or audiences as a whole, termination of partnership and contractual relationships and technical problems or outages. Please see NTN Buzztime, Inc.'s recent filings with the Securities and Exchange Commission for information about these and other risks that may affect the Company. All forward-looking statements included in this release are based on information available to us on the date hereof. These statements speak only as of the date hereof, and NTN Buzztime, Inc. does not undertake to publicly update or revise any of its forward-looking statements, even if experience or future changes show that the indicated results or events will not be realized.

A schedule reconciling the Company's consolidated net loss calculated in accordance with GAAP to EBITDA is included in the supplemental table below. EBITDA is not intended to represent a measure of performance in accordance with GAAP, nor should EBITDA be considered as an alternative to statements of cash flows as a measure of liquidity. EBITDA is included herein because the Company believes it is a measure of operating performance that financial analysts, lenders, investors and other interested parties find to be a useful tool for analyzing companies like Buzztime that carry significant levels of non-cash depreciation and amortization charges in comparison to their net income or loss calculation in accordance with GAAP.